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Ireland : Eaton Clarifies Impact of Recent Divestitures and Legal Settlements on Second Quarter Earnings

July 19, 2014

Power management company Eaton Corporation plc, in preparation for its second quarter 2014 earnings release on July 29, today clarified the expected impact of several unusual items that occurred in the quarter.

The gain from the recent aerospace divestitures to Safran, and the settlement amounts and other costs relating to settlements of the litigation with Meritor Inc., Triumph Group Inc., and related lawsuits, are expected to reduce second quarter operating earnings by approximately $0.70 per share, after-tax.

Excluding these unusual items, Eaton s guidance for second quarter 2014 operating earnings per share is $1.10 to $1.12. This compares to the second quarter guidance of $1.05 to $1.15 originally announced on April 29, 2014.

Eaton is a power management company with 2013 sales of $22.0 billion. Eaton provides energy-efficient solutions that help our customers effectively manage electrical, hydraulic and mechanical power more efficiently, safely and sustainably. Eaton has approximately 103,000 employees and sells products to customers in more than 175 countries.

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Source: TendersInfo (India)

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